FORM 10-Q/A

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

(Mark One)

|X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
                                  ACT OF 1934

                  For the quarterly period ended June 30, 2003

                                       OR

|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                  ACT OF 1934

             For the transition period from ________ to ___________

                        Commission file number: 333-76435


                 WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7


                   California                                    33-0761517
                 (State or other jurisdiction of              (I.R.S. Employer
                 incorporation or organization)              Identification No.)


                              17782 Sky Park Circle
                                Irvine, CA 92614
                    (Address of principal executive offices)

                                 (714) 662-5565
                               (Telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes           No      X
    ---------    -----------

Indicate  by check mark  whether  the  registrant  is an  accelerated  filer (as
defined in rule 12b-2 of the Exchange Act).

Yes           No      X
    ---------    ----------




<PAGE>



                                EXPLANATORY NOTE

WNC Housing Tax Credit Fund VI, L.P.,  Series 7 is filing this  amendment to its
Quarterly  Report on Form 10-Q for the period ended June 30, 2003 to restate its
financial  statements  as of June 30,  2003 and for the quarter  then ended.  As
discussed below, the Partnership has invested in Local Limited Partnerships. The
Partnership  was unable to obtain  audited  financial  statements for one of the
Local Limited  Partnerships  at the original  filing date of the Form 10-Q, June
30,  2003.  Those  audited  financial  statements  have been  obtained,  and the
restatement  reflects  the  changes  in  amounts  and  interest  in  results  of
operations from that previously estimated by the Partnership.







                                       2
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                              INDEX TO FORM 10-Q/A

                  For the Quarterly Period Ended June 30, 2003


PART I. FINANCIAL INFORMATION

   Item 1. Financial Statements

          Balance Sheets
            June 30, 2003 and March 31, 2003 ..................................3

          Statements of Operations
            For the Three Months Ended June 30, 2003 and 2002..................4

          Statement of Partners' Equity (Deficit)
            For the Three Months Ended June 30, 2003...........................5

          Statements of Cash Flows
            For the Three Months Ended June 30, 2003 and 2002..................6

          Notes to Financial Statements........................................7

   Item 2. Management's Discussion and Analysis of Financial
            Condition and Results of Operations...............................18

   Item 3. Quantitative and Qualitative Disclosures about Market Risk.........20

   Item 4. Controls and Procedures............................................20

PART II. OTHER INFORMATION

   Item 6. Exhibits and Reports on Form 8-K...................................21

   Signatures ................................................................22













                                       3
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                                 BALANCE SHEETS
<TABLE>
<CAPTION>




                                                                     June 30, 2003                 March 31, 2003
                                                                 -----------------------        ----------------------
                                                                      (Unaudited)
                                                                       (Restated)                   (Restated)
<S>                                                           <C>                            <C>
ASSETS

Cash and cash equivalents                                     $               1,905,211      $              2,246,731
Investments in limited partnerships (Note 3)                                 13,420,368                    13,010,788
Loans receivable (Note 2)                                                        85,010                       212,019
                                                                 -----------------------        ----------------------

                                                              $              15,410,589      $             15,469,538
                                                                 =======================        ======================


LIABILITIES AND PARTNERS' EQUITY (DEFICIT)

Liabilities:
   Payables to limited partnerships (Note 5)                  $                 516,532      $                336,428
   Accrued fees and expenses due to General
      Partner and affiliates (Note 4)                                           284,547                       277,080
                                                                 -----------------------        ----------------------

Total liabilities                                                               801,079                       613,508
                                                                 -----------------------        ----------------------

Commitment and contingencies (Note 6)

Partners' equity (deficit):
   General Partner                                                               (3,393)                       (3,146)
   Limited Partners (25,000 units authorized and
      18,850 units issued and outstanding at
      June 30, and March 31, 2003)                                           14,612,903                    14,859,176
                                                                 -----------------------        ----------------------

Total partners' equity                                                       14,609,510                    14,856,030
                                                                 -----------------------        ----------------------

                                                              $              15,410,589      $             15,469,538
                                                                 =======================        ======================
</TABLE>


                 See accompanying notes to financial statements
                                       4
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF OPERATIONS

                For the Three Months Ended June 30, 2003 and 2002
                                   (unaudited)

<TABLE>
<CAPTION>

                                                           2003                            2002
                                                       Three Months                    Three Months
                                                  ------------------------     -----------------------------
                                                        (Restated)

<S>                                             <C>                          <C>
       Reporting fee                            $                  3,500     $                           -
       Interest income                                             6,606                            12,512
                                                  ------------------------     -----------------------------
                                                                  10,106                            12,512
       Operating expenses:
            Amortization (Note 3)                                 14,229                            14,229
            Asset management fees (Note 4)                        14,290                             8,998
            Legal and accounting fees                              3,570                            10,859
            Other                                                  2,175                             3,815
                                                  ------------------------     -----------------------------

              Total operating expenses                            34,264                            37,901
                                                  ------------------------     -----------------------------

       Loss from operations                                      (24,158)                          (25,389)
                                                  ------------------------     -----------------------------

       Equity in losses of limited
       partnerships (Note 3)                                    (222,362)                          (92,105)
                                                  ------------------------     -----------------------------

       Net loss                                 $               (246,520)    $                    (117,494)
                                                  ========================     =============================

       Net loss allocated to:
            General Partner                     $                   (247)    $                        (117)
                                                  ========================     =============================

            Limited Partners                    $               (246,273)    $                    (117,377)
                                                  ========================     =============================

       Net loss per limited partnership
          unit                                  $                    (13)    $                          (6)
                                                  ========================     =============================

       Outstanding weighted average
          limited partner units                                   18,850                            18,850
                                                  ========================     =============================
</TABLE>


                 See accompanying notes to financial statements
                                       5

<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                     STATEMENT OF PARTNERS' EQUITY (DEFICIT)

                    For the Three Months Ended June 30, 2003
                                   (unaudited)
<TABLE>
<CAPTION>



                                                        General             Limited
                                                        Partner             Partners                Total
                                                    ----------------     ----------------     ------------------
                                                      (Restated)           (Restated)            (Restated)

<S>                                               <C>               <C>                     <C>
Partners' equity (deficit) at March 31, 2003      $          (3,146)$        14,859,176     $       14,856,030

Net loss    (Restated)                                         (247)           (246,273)              (246,520)
                                                    ----------------     ----------------     ------------------

Partners' equity (deficit) at June 30, 2003       $          (3,393)$        14,612,903     $       14,609,510
                                                    ================     ================     ==================

</TABLE>


                 See accompanying notes to financial statements
                                       6
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                            STATEMENTS OF CASH FLOWS

                For the Three Months Ended June 30, 2003 and 2002
                                   (unaudited)
<TABLE>
<CAPTION>

                                                                        2003                     2002
                                                                 -------------------      --------------------
                                                                     (Restated)
<S>                                                           <C>                      <C>
   Cash flows from operating activities:
      Net loss                                                $           (246,520)    $             (117,494)
      Adjustments to reconcile net loss to net cash
         provided by operating activities:
         Amortization                                                       14,229                     14,229
         Equity in losses of limited partnerships                          222,362                     92,105
         Accrued fees and expenses due to General Partner
          and affiliates                                                     7,468                      5,398
                                                                 -------------------      --------------------

   Net cash used in operating activities                                    (2,461)                    (5,762)
                                                                 -------------------      --------------------

   Cash flows from investing activities:
      Investments in limited partnerships, net                            (468,822)                  (262,592)
      Funds held in escrow disbursement account                                  -                    591,512
      Loans receivable                                                     127,009                     (7,567)
      Distributions from limited partnerships                                2,754                          -
                                                                 -------------------      --------------------

   Net cash (used in) provided by investing activities                    (339,059)                   321,353
                                                                 -------------------      --------------------

   Net (decrease) increase in cash and cash equivalents                   (341,520)                   315,591
                                                                 -------------------      --------------------

   Cash and cash equivalents, beginning of period                        2,246,731                  2,886,305
                                                                 -------------------      --------------------

   Cash and cash equivalents, end of period                   $          1,905,211     $            3,201,896
                                                                 ===================      ====================

   SUPPLEMENTAL DISCLOSURE OF CASH
      FLOW INFORMATION
         Taxes paid                                           $                  -     $                  800
                                                                 ===================      ====================
</TABLE>
                 See accompanying notes to financial statements
                                       7

<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
---------------------------------------------------

General
-------

The accompanying  condensed unaudited financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information and with the instructions to Form 10-Q
for quarterly  reports under Section 13 or 15(d) of the Securities  Exchange Act
of 1934.  Accordingly,  they do not include all of the information and footnotes
required by  accounting  principles  generally  accepted in the United States of
America for complete  financial  statements.  In the opinion of management,  all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair  presentation  have been included.  Operating  results for the three months
ended June 30, 2003 are not  necessarily  indicative  of the results that may be
expected  for the fiscal year ending March 31,  2004.  For further  information,
refer  to  the  financial  statements  and  footnotes  thereto  included  in the
Partnership's  amended  annual  report on Form  10-K/A for the fiscal year ended
March 31, 2003.

Organization
------------

WNC  Housing  Tax  Credit  Fund  VI,  L.P.,  Series  7,  (a  California  Limited
Partnership) (the  "Partnership")  was formed on June 16, 1997 under the laws of
the state of California.  The Partnership began operations on September 3, 1999,
the  effective  date of its public  offering  pursuant to Security  and Exchange
approval of the Partnership's  Pre-Effective  Amendment No. 3 to Form S-11 filed
with the  Securities and Exchange  Commission on July 16, 1999. The  Partnership
was formed to invest primarily in other limited partnerships (the "Local Limited
Partnerships")  which  own  and  operate  multi-family  housing  complexes  (the
"Housing  Complexes") that are eligible for low-income housing tax credits.  The
local  general  partners  (the "Local  General  Partners") of each Local Limited
Partnership will retain  responsibility for maintaining,  operating and managing
the Housing Complex.

The general partner is WNC & Associates, Inc. ("WNC") (the "General Partner"), a
California limited partnership. The chairman and president own substantially all
of the  outstanding  stock of WNC. The business of the  Partnership is conducted
primarily through WNC, as the Partnership has no employees of its own.

The Partnership shall continue in full force and effect until December 31, 2060,
unless terminated prior to that date,  pursuant to the partnership  agreement or
law.

The financial  statements  include only activity relating to the business of the
Partnership,  and do not give  effect to any assets that the  partners  may have
outside of their interests in the Partnership, or to any obligations,  including
income taxes, of the partners.

The  Partnership  agreement  authorized the sale of up to 25,000 units at $1,000
per Unit ("Units"). As of June 30, 2003, 18,850 Units representing subscriptions
in the amount of $18,828,745  had been sold, net of volume  discounts of $45 and
$21,210  of  dealer  discounts.  The  General  Partner  has a 0.1%  interest  in
operating  profits and losses,  taxable  income and losses,  cash  available for
distribution  from the  Partnership  and tax  credits  of the  Partnership.  The
limited  partners  will be  allocated  the  remaining  99.9% of  these  items in
proportion to their respective investments.

After the limited  partners  have received  proceeds from a sale or  refinancing
equal to their capital  contributions and their return on investment (as defined
in the  Partnership  Agreement)  and the General  Partner has received  proceeds
equal  to its  capital  contribution  and a  subordinated  disposition  fee  (as
described in Note 4) from the  remainder,  any  additional  sale or  refinancing
proceeds will be distributed 90% to the limited partners (in proportion to their
respective investments) and 10% to the General Partner.


                                       8
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

Risks and Uncertainties
-----------------------

An investment in the  Partnership  and the  Partnership's  investments  in Local
Limited  Partnerships  and their Housing  Complexes are subject to risks.  These
risks may impact the tax benefits of an investment in the  Partnership,  and the
amount of proceeds  available for distribution to the Limited Partners,  if any,
on liquidation of the Partnership's investments. Some of those risks include the
following:

The  Low-Income  Housing Credit rules are extremely  complicated.  Noncompliance
with these rules results in the loss of future  Low-Income  Housing Credit s and
the fractional  recapture of Low-Income  Housing  Credits already taken. In most
cases the annual amount of Low-Income Housing Credits that an individual can use
is limited to the tax  liability  due on the  person's  last  $25,000 of taxable
income.  The  Local  Limited  Partnerships  may be  unable  to sell the  Housing
Complexes at a profit. Accordingly,  the Partnership may be unable to distribute
any cash to its investors.  Low-Income  Housing  Credits may be the only benefit
from an investment in the Partnership.

The Partnership has invested in a limited number of Local Limited  Partnerships.
Such  limited  diversity  means that the  results of  operation  of each  single
Housing  Complex  will have a greater  impact on the  Partnership.  With limited
diversity,   poor   performance   of  one  Housing   Complex  could  impair  the
Partnership's ability to satisfy its investment objectives. Each Housing Complex
is subject to mortgage  indebtedness.  If a Local Limited  Partnership failed to
pay its  mortgage,  it  could  lose  its  Housing  Complex  in  foreclosure.  If
foreclosure  were to occur during the first 15 years,  the loss of any remaining
future Low-Income  Housing Credits,  a fractional  recapture of prior Low-Income
Housing  Credits,  and a loss of the  Partnership's  investment  in the  Housing
Complex would occur. The Partnership is a limited partner or non-managing member
of each Local Limited Partnership.  Accordingly,  the Partnership will have very
limited rights with respect to management of the Local Limited Partnerships. The
Partnership  will  rely  totally  on the Local  General  Partners.  Neither  the
Partnership's  investments in Local Limited Partnerships,  nor the Local Limited
Partnerships'  investments in Housing Complexes, are readily marketable.  To the
extent  the  Housing  Complexes  receive   government   financing  or  operating
subsidies,  they  may be  subject  to  one  or  more  of  the  following  risks:
difficulties  in obtaining  tenants for the Housing  Complexes;  difficulties in
obtaining  rent  increases;  limitations on cash  distributions;  limitations on
sales or refinancing of Housing Complexes; limitations on transfers of interests
in Local Limited Partnerships; limitations on removal of Local General Partners;
limitations on subsidy programs; and possible changes in applicable regulations.
Uninsured  casualties  could result in loss of property and  Low-Income  Housing
Credits and recapture of Low-Income  Housing Credits previously taken. The value
of real  estate  is  subject  to risks  from  fluctuating  economic  conditions,
including employment rates, inflation,  tax, environmental,  land use and zoning
policies, supply and demand of similar properties,  and neighborhood conditions,
among others.

The  ability of Limited  Partners to claim tax losses  from the  Partnership  is
limited.  The IRS may audit the  Partnership or a Local Limited  Partnership and
challenge  the tax  treatment  of tax items.  The amount of  Low-Income  Housing
Credits and tax losses  allocable to the  investors  could be reduced if the IRS
were successful in such a challenge.  The  alternative  minimum tax could reduce
tax benefits from an investment  in the  Partnership.  Changes in tax laws could
also impact the tax benefits from an investment  in the  Partnership  and/or the
value of the Housing Complexes.

No trading market for the Units exists or is expected to develop.  Investors may
be unable to sell their Units  except at a discount  and should  consider  their
Units to be a long-term  investment.  Individual investors will have no recourse
if they  disagree  with actions  authorized by a vote of the majority of Limited
Partners.

Method of Accounting for Investments in Limited Partnerships
------------------------------------------------------------

The Partnership  accounts for its investments in limited  partnerships using the
equity method of  accounting,  whereby the  Partnership  adjusts its  investment
balance for its share of the Local Limited  Partnerships'  results of operations
and for any  contributions  made and  distributions  received.  The  Partnership
reviews the  carrying  amount of an  individual  investment  in a Local  Limited
Partnership for possible  impairment whenever events or changes in circumstances
indicate that the carrying

                                       9
<PAGE>



                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

amount  of  such  investment  may  not be  recoverable.  Recoverability  of such
investment  is  measured  by a  comparison  of the  carrying  amount  to  future
undiscounted  net cash flows  expected  to be  generated.  If an  investment  is
considered  to be impaired,  the  impairment to be recognized is measured by the
amount by which the carrying  amount of the investment  exceeds fair value.  The
accounting policies of the Local Limited Partnership's are consistent with those
of  the  Partnership.  Costs  incurred  by  the  Partnership  in  acquiring  the
investments  are  capitalized  as part of the  investment  account and are being
amortized over 30 years (see Notes 3 and 4).

Equity in losses of limited  partnerships  for the quarters  ended June 30, 2003
and 2002 have been recorded by the Partnership  based on three months of results
estimated  by  management  of the  Partnership.  Management's  estimate  for the
three-month  period is based on either actual unaudited  results reported by the
Local Limited  Partnerships or historical  trends in the operations of the Local
Limited Partnerships.  Equity in losses of Local Limited Partnerships  allocated
to the  Partnership  will not be  recognized  to the extent that the  investment
balance would be adjusted below zero. As soon as the investment  balance reaches
zero,  the related  costs of acquiring the  investment  are  accelerated  to the
extent of losses  available  (see  Note 4).  If the Local  Limited  Partnerships
report net income in future  years,  the  Partnership  will resume  applying the
equity  method  only after its share of such net income  equals the share of net
losses not recognized during the period(s) the equity method was suspended.

Offering Expenses
-----------------

Offering  expenses are expected to consist of  underwriting  commissions,  legal
fees,  printing,  filing and  recordation  fees,  and other  costs  incurred  in
connection with the selling of limited partnership interests in the Partnership.
The General  Partner is obligated to pay all  offering  and  organization  costs
inclusive of selling commissions and dealer manager fees, in excess of 4% of the
total  offering  proceeds.  Offering  expenses  are  reflected as a reduction of
limited  partners'  capital and amounted to  $2,429,245  as of June 30, 2003 and
March 31, 2003.

Exit Strategy
-------------

The IRS  compliance  period for  low-income  housing  tax credit  properties  is
generally  15 years from  occupancy  following  construction  or  rehabilitation
completion.  WNC was one of the first in the industry to offer investments using
the tax credit.  Now these very first programs are completing  their  compliance
period.

With that in mind, we are continuing our review of the  Partnership's  holdings,
with special  emphasis on the more mature  properties  including those that have
satisfied the IRS compliance requirements. Our review will consider many factors
including  extended  use  requirements  on the  property  (such as those  due to
mortgage  restrictions  or state  compliance  agreements),  the condition of the
property,  and  the tax  consequences  to the  investors  from  the  sale of the
property.

Upon identifying  those  properties with the highest  potential for a successful
sale, refinancing or syndication, we expect to proceed with efforts to liquidate
those  properties.  Our objective is to maximize the investors'  return wherever
possible and,  ultimately,  to wind down those funds that no longer  provide tax
benefits  to  investors.  To date no  properties  in the  Partnership  have been
selected.

Use of Estimates
----------------

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements,  and the  reported  amounts of revenues and expenses
during the reporting  period.  Actual results could materially differ from those
estimates.

                                       10
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

Income Taxes
------------

No provision for income taxes has been  recorded in the financial  statements as
any  liability  and/or  benefits  for income  taxes flows to the partners of the
Partnership and is their obligation and/or benefit.  For income tax purposes the
Partnership reports on a calendar year basis.

Cash and Cash Equivalents
-------------------------

The Partnership considers all highly liquid investments with original maturities
of three months or less when  purchased to be cash  equivalents.  As of June 30,
2003 and March 31, 2003 the Partnership  had cash  equivalents of $1,905,000 and
$2,247,000,   respectively.  These  amounts  consist  primarily  of  tax  exempt
instruments   collateralized   by  tax  exempt   municipal  bonds  from  various
municipalities  throughout the United  States.  These  instruments  generate tax
exempt yields and generally have 35 days or less maturities.

Concentration of Credit Risk
----------------------------

At June 30, 2003, the Partnership  maintained cash balances at certain financial
institutions in excess of the federally insured maximum.

Net Income Per Limited Partner Unit
-----------------------------------

Net income per limited  partnership unit is calculated  pursuant to Statement of
Financial  Accounting Standards No. 128, Earnings Per Share. Net income per unit
includes no dilution  and is computed by dividing  income  available  to limited
partners by the weighted average number of units outstanding  during the period.
Calculation of diluted net income per unit is not required.

Reporting Comprehensive Income
------------------------------

The  Statement of Financial  Accounting  Standards  ("SFAS") No. 130,  Reporting
Comprehensive  Income  established  standards  for the  reporting and display of
comprehensive  income (loss) and its components in a full set of general-purpose
financial statements. The Partnership had no items of other comprehensive income
for all the periods presented, as defined by SFAS No. 130.

New Accounting Pronouncements
-----------------------------

In January 2003, the FASB issued Interpretation No. 46 ("FIN46"), "Consolidation
of  Variable  Interest  Entities."  FIN 46  provides  guidance on when a company
should include the assets,  liabilities,  and activities of a variable  interest
entity  ("VIE")  in  its  financial  statements  and  when  it  should  disclose
information  about its relationship  with a VIE. A VIE is a legal structure used
to conduct activities or hold assets, which must be consolidated by a company if
it is the primary  beneficiary  because it absorbs the  majority of the entity's
expected losses, the majority of the expected returns, or both.

In  December  2003,  the FASB issued a revision of FIN 46 ("FIN 46R") to clarify
some of its provisions.  The revision results in multiple  effective dates based
on the  nature  as well as the  creation  date of the VIE.  VIEs  created  after
January 31,  2003,  but prior to January 1, 2004,  may be  accounted  for either
based on the original interpretations or the revised  interpretations.  However,
all VIEs must be accounted for under the revised interpretations as of March 31,
2004, when FIN 46R is effective for the Partnership.


                                       11
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued
--------------------------------------------------------------

This  Interpretation  would require  consolidation by the Partnership of certain
Local Limited  Partnerships' assets and liabilities and results of operations if
the Partnership determined that the Local Limited Partnership was a VIE and that
the  Partnership  was  the  "Primary  Beneficiary."  Minority  interests  may be
recorded for the Local Limited  Partnerships'  ownership  share  attributable to
other Limited Partners. Where consolidation of Local Limited Partnerships is not
required,   additional  financial  information   disclosures  of  Local  Limited
Partnerships  may be  required.  The  Partnership  has  assessed  the  potential
consolidation effects of the Interpretation and preliminarily concluded that the
adoption of the Interpretation  will not have a material impact on the financial
statements of the Partnerships.

NOTE 2 - LOANS RECEIVABLE
-------------------------

Loans  receivable  represent  amounts loaned by the Partnership to certain Local
Limited  Partnerships  in  which  the  Partnership  may  invest  or has  already
invested.   These  loans  are  generally   applied  against  the  first  capital
contribution due if the Partnership  ultimately invests in such entities. In the
event that the Partnership does not invest in such entities, the loans are to be
repaid  with  interest  at a rate,  which is equal  to the rate  charged  to the
holder.  At June 30, 2003,  loans  receivable  and accrued  interest  thereon of
$85,011 were due from two Local Limited  Partnerships  in which the  Partnership
owns a 99.98%  interest (See Note 7). One of the loans in the amount of $78,000,
is in the  form  of a 20 year  promissory  note,  is  subordinate  to the  first
mortgage on the  respective  property,  due in full on August 30, 2022 and earns
interest at a rate of 8% per annum.

NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS
--------------------------------------------

As of the periods  presented,  the Partnership has acquired limited  partnership
interests in thirteen Local Limited  Partnerships,  respectively,  each of which
owns one Housing Complex  consisting of an aggregate of 452 apartment  units. As
of June 30, 2003  construction or rehabilitation of all of the Housing Complexes
was completed. The respective general partners of the Local Limited Partnerships
manage the  day-to-day  operations  of the entities.  Significant  Local Limited
Partnership  business  decisions  require  approval  from the  Partnership.  The
Partnership, as a limited partner, is generally entitled to 99.98%, as specified
in the Local  Limited  Partnership  agreements,  of the  operating  profits  and
losses,  taxable  income  and  losses  and  tax  credits  of the  Local  Limited
Partnerships.

Equity  in  losses  of the  Local  Limited  Partnerships  is  recognized  in the
financial  statements until the related  investment account is reduced to a zero
balance. Losses incurred after the investment account is reduced to zero are not
recognized. If the Local Limited Partnerships report net income in future years,
the  Partnership  will resume applying the equity method only after its share of
such net  income  equals  the share of net  losses  not  recognized  during  the
period(s) the equity method was suspended.

Distributions  from the Local Limited  Partners are accounted for as a reduction
of the  investment  balance.  Distributions  received  after the  investment has
reached  zero are  recognized  as income.  As of June 30,  2003,  no  investment
accounts in Local Limited Partnerships had reached a zero balance.




                                       12
<PAGE>

                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)
<TABLE>
<CAPTION>


NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

Following  is a summary of the equity  method  activity  of the  investments  in
limited partnerships for the periods presented:

                                                               For the Three Months            For the Year
                                                                      Ended                        Ended
                                                                  June 30, 2003               March 31, 2003
                                                              -----------------------   ----------------------------
                                                                     (Restated)                  (Restated)
<S>                                                         <C>                       <C>
  Investment in limited partnerships, beginning of period   $            13,010,788   $                 13,125,199
  Capital contributions paid, net                                           431,572                      1,105,258
  Capital contributions payable                                             217,354                              -
  Equity in losses of limited partnerships                                 (222,362)                      (962,573)
  Distributions received from limited partnerships                           (2,755)                        (2,222)
  Amortization of capitalized acquisition fees and costs                    (14,229)                       (56,916)
  Tax credit adjustment                                                           -                       (197,958)
                                                              -----------------------   ----------------------------

  Investment in limited partnerships, end of period         $            13,420,368   $                 13,010,788
                                                              =======================   ============================
</TABLE>

Selected financial information for the three months ended June 30, 2003 and 2002
from the unaudited combined condensed financial statements of the limited
partnerships in which the Partnership has invested as follows:

<TABLE>
<CAPTION>

                   COMBINED CONDENSED STATEMENTS OF OPERATIONS


                                                                       2003                   2002
                                                                 -------------------    ------------------
                                                                    (Restated)


<S>                                                            <C>                  <C>
         Revenue                                               $          672,000   $           435,000
                                                                 -------------------    ------------------

         Expenses:
           Interest expense                                               197,000               166,000
           Depreciation                                                   264,000               127,000
           Operating expenses                                             433,000               234,000
                                                                 -------------------    ------------------
         Total expenses                                                   894,000               527,000
           Net Loss                                            $         (222,000)  $           (92,000)
                                                                 ===================    ==================

         Net loss allocable to the Partnership                 $         (222,000)  $           (92,000)
                                                                 ===================    ==================

         Net loss recorded by the Partnership                  $         (222,000)  $           (92,000)
                                                                 ===================    ==================
</TABLE>


                                       13
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 3 - INVESTMENTS IN LIMITED PARTNERSHIPS, continued
-------------------------------------------------------

Certain Local Limited  Partnerships have incurred  significant  operating losses
and/or have  working  capital  deficiencies.  In the event  these Local  Limited
Partnerships continue to incur significant operating losses,  additional capital
contributions  by the  Partnership  and/or  the Local  General  Partners  may be
required  to sustain  the  operations  of such Local  Limited  Partnerships.  If
additional  capital  contributions  are not made  when  they are  required,  the
Partnership's  investment in certain of such Local Limited Partnerships could be
impaired, and the loss and recapture of the related tax credits could occur.

NOTE 4 - RELATED PARTY TRANSACTIONS
-----------------------------------

The Partnership has no officers,  employees,  or directors.  However,  under the
terms of the  Partnership  Agreement the Partnership is obligated to the General
Partner or its affiliates for the following fees:

     (a)  Acquisition fees of 7% of the gross proceeds from the sale of Units as
          compensation for services  rendered in connection with the acquisition
          of Local Limited Partnerships. As of June 30, 2003 and March 31, 2003,
          the Partnership incurred  acquisition fees of $1,319,500.  Accumulated
          amortization of these  capitalized costs were $133,854 and $122,857 as
          of June 30, 2003 and March 31, 2003, respectively.

     (b)  Acquisition  costs of 2% of the gross proceeds from the sales of Units
          as full  reimbursement  of costs  incurred by the  General  Partner in
          connection with the acquisition of Local Limited  Partnerships.  As of
          June 30, 2003 and March 31, 2003, the Partnership incurred acquisition
          costs of $377,000. Accumulated amortization was $39,222 and $35,990 as
          of June 30, 2003 and March 31, 2003, respectively.

     (c)  An annual  asset  management  fee not to exceed  0.2% of the  invested
          assets  (defined  as  the  Partnership's  capital  contributions  plus
          reserves of the  Partnership  of up to 5% of gross  proceeds  plus its
          allocable  percentage  of the mortgage  debt  encumbering  the housing
          complexes)  of the  Local  Limited  Partnerships.  Management  fees of
          $14,290 and $8,998 were  incurred  during the three  months ended June
          30,  2003 and 2002,  respectively.  The  Partnership  paid the General
          Partner or its affiliates $12,566 and $15,000 of those fees during the
          three months ended June 30, 2003 and 2002, respectively.

     (d)  A subordinated  disposition  fee in an amount equal to 1% of the sales
          price of real estate sold.  Payment of this fee is subordinated to the
          limited  partners  receiving a return on investment (as defined in the
          Partnership  Agreement) and is payable only if the General  Partner or
          its affiliates render services in the sales effort.

     (e)  The  Partnership  reimburses the General Partner or its affiliates for
          operating  expenses  incurred in behalf of the Partnership.  Operating
          expense  reimbursement  are  approximately  $16,442  and $0 during the
          three months ended June 30, 2003 and 2002, respectively.

The accrued fees and expenses due to the General Partner and affiliates  consist
of the following at:
<TABLE>
<CAPTION>

                                                                      June 30, 2003         March 31, 2003
                                                                  ----------------------   ------------------
<S>                                                             <C>                      <C>
         Interest and insurance proceeds payable to             $               220,903  $           220,903
           Local Limited Partnerships
         Organizational, offering and selling costs payable                       2,590                2,590
         Asset management fee payable                                            50,764               49,040
         Reimbursement for expenses paid by
           the General Partner or an affiliate                                   10,290                4,547
                                                                  ----------------------   ------------------

                                                                $               284,547  $           277,080
                                                                  ======================   ==================
</TABLE>


                                       14

<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)


NOTE 5 - PAYABLES TO LIMITED PARTNERSHIPS
-----------------------------------------

Payables  to limited  partnerships  represent  amounts  which are due at various
times  based on  conditions  specified  in the  respective  limited  partnership
agreements.  These  contributions  are payable in installments and are generally
due upon the limited  partnerships  achieving certain  development and operating
benchmarks (generally within two years of the Partnership's initial investment).

NOTE 6 - COMMITMENTS AND CONTINGENCIES
--------------------------------------

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, had a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan was due in March 2002 and was not repaid at that time.  In  September  2002
the loan was successfully  refinanced with a first mortgage of $463,000 and a 20
year loan of $80,000 from the Partnership to Southern Hills.  The balance of the
construction  loan  was  paid  off  by  the  Local  Limited   Partnership.   The
Partnership's loan is subordinate to the first mortgage and requires payments to
be made  monthly  and at the end of the  year  from  available  cash  flow.  The
Partnership expects this loan to be collectible in full. Southern Hills has been
making all payments on a timely  manner and as of September  30, 2004 is current
on the loan owing to the Partnership.

During  the  year  ended  March  31,  2002,  WNC,  the  General  Partner  of the
Partnership,   was  advised  that  Lake  Village  Apartments,  a  Local  Limited
Partnership,  was in default of covenants  relating to certain loans advanced to
it for the construction of apartments. The defaults were primarily caused by the
general  contractor  failing to complete  the  construction  of the  development
according to the terms of the loans.  As a result of the foregoing,  at June 30,
2002,  Lake Village  Apartments  and the Shelter  Resource  Corporation  ("SRC")
executed a workout  agreement with their lender (the  "Agreement"),  whereby the
Local  General   Partner  of  Lake  Village   Apartments  was  replaced  by  the
aforementioned  SRC.  Pursuant  to the  terms of the  Agreement,  the new  Local
General  Partner would cause  additional  equity to be  contributed to the Local
Limited Partnership, a new general contractor would complete the construction of
the development,  and the lender, upon satisfaction of certain conditions of the
Agreement,   as  defined,   would   continue  to  fund  the  completion  of  the
construction,  among other costs.  In addition,  pursuant to the Agreement,  the
Partnership  Agreement was amended, and the Partnership  committed to additional
capital  contributions  of  $855,628  as a result of  obtaining  additional  tax
credits,  and $387,877 was disbursed to an escrow account and further  disbursed
to Lake Village  Apartments.  A net amount of $522,997 had been advanced to Lake
Village by March 31, 2003.  An amount of $467,751  from this advance was applied
to capital  contributions  along  with  $49,587  that was  applied  towards  the
interest  payable owing to Lake Village  resulting  from an escrow account as of
March 31, 2003, resulting in a balance of $5,660. The Partnership entered into a
loan  receivable  agreement in the amount of this balance,  which is included in
loans  receivable.  Construction  of the development is completed and as of June
30, 2003, the facility had reached 82% occupancy and 100% tax credit  qualified.
The property will be switching  management  companies in January 2005 to improve
the quality of tenant  communications,  stablize  occupancy and reduce operating
expenses. The current occupancy rate is 90% as of September 30, 2004.

Note 7 - RESTATEMENT
--------------------

The Partnership, as a limited partner or limited liability company member in the
Local Limited Partnerships, may be unable to affect the selection or monitor the
progress  of the  auditors  of a  Local  Limited  Partnership.  The  partnership
agreement or  operating  agreement of each Local  Limited  Partnership  includes
disincentives for the failure of the Local Limited Partnership to timely deliver
audited  financial  statements  to the  Partnership.  However,  there  can be no
absolute  assurance that the  Partnership  will be able to timely obtain audited
financial  statements from each Local Limited  Partnership.  In such a case, the
Partnership  might estimate its interest in the results of the operations of the
Local Limited Partnership. For the Partnership fiscal years ended March 31, 2003
and 2002, the Partnership was unable to obtain audited financial statements from
one of its Local Limited  Partnerships,  Lake Village  Apartments,  L.P.  ("Lake
Village"),  as of and for the Lake Village  fiscal years ended December 31, 2002
and 2001. Subsequent to the filing date of the Partnership's  original Form 10-Q
for the  period  ended June 30,  2003,  the  Partnership  obtained  the  audited
financial  statements  of Lake  Village for the Lake  Village  fiscal year ended
December 31, 2002. As a result,  the Partnership  has restated its  accompanying
financial  statements  for the  quarter  ended  June  30,  2003 to  reflect  the
differences  in the  Partnership's  estimated  interest  in the  results  of the
operations in Lake Village, and the


                                       15
<PAGE>


                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)

<TABLE>
<CAPTION>

Note 7 -  RESTATEMENT, continued
--------------------------------

Village fiscal year ended December 31, 2002.  The  Partnership  has not restated
the accompanying financial statements for the quarter ended June 30, 2002; there
were no Lake Village audited financial  statements received for the Lake Village
fiscal  year  ended  December  31,  2001,  inasmuch  as Lake  Village  was under
construction  during  2001.  Consequently,  there  were no  material  results of
operations for Lake Village for the quarter ended June 30, 2002.

The following  table shows the effect of the restatement on the Balance Sheet as
previously reported:

                                                                      Quarter Ended June 30, 2003 (Unaudited)
                                                                  ----------------------------------------------
                                                                                               As Previously
                                                                      As Restated                 Reported
                                                                  ---------------------      -------------------
<S>                                                               <C>                         <C>
     Investment in limited partnerships, net                      $        13,420,368         $     13,450,831
     Total assets                                                          15,410,589               15,441,053
     Partners' equity (deficit)
         General partner                                                       (3,393)                  (3,361)
         Limited partners                                                  14,612,903               14,643,352
     Total partners' equity                                                14,609,510               14,639,991
</TABLE>
<TABLE>
<CAPTION>

The following table shows the effect of the restatement on the Statement of Operations as previously reported:

                                                                      Quarter Ended June 30, 2003 (Unaudited)
                                                                  ----------------------------------------------
                                                                                               As Previously
                                                                      As Restated                 Reported
                                                                  ---------------------      -------------------
<S>                                                               <C>                        <C>
     Equity in losses of limited partnerships                     $          (223,362)       $        (228,767)
     Net loss                                                                (246,520)                (256,406)
     Net loss allocated to:
         General partner                                                         (247)                    (256)
         Limited partners                                                    (246,273)                (256,150)

     Net loss per limited partner unit                                            (13)                     (14)

</TABLE>




                                       16
<PAGE>



                 WNC HOUSING TAX CREDIT FUND VI, L.P., SERIES 7
                       (A California Limited Partnership)

                    NOTES TO FINANCIAL STATEMENTS - CONTINUED
                  For the Quarterly Period Ended June 30, 2003
                                   (unaudited)
<TABLE>
<CAPTION>


Note 7 -  RESTATEMENT, continued
--------------------------------

The  following  table shows the effect of the  restatement  on the  Statement of Partners' Equity (Deficit) as previously reported:

                                                                      Quarter Ended June 30, 2003 (Unaudited)
                                                                  ---------------------------------------------
                                                                                              As Previously
                                                                      As Restated                Reported
                                                                  -------------------        ------------------
<S>                                                               <C>                         <C>
     General Partner
         Partners' equity (deficit) at March 31, 2003             $          (3,146)          $        (3,105)
         Net loss                                                              (247)                     (256)
                                                                     ----------------            --------------
         Partners' equity (deficit) at June 30, 2003                         (3,393)                   (3,361)


     Limited Partners
         Partners' equity (deficit) at March 31, 2003                    14,859,176                14,899,502
         Net loss                                                          (246,273)                 (256,150)
                                                                     ----------------            --------------
         Partners' equity (deficit) at June 30, 2003                     14,612,903                14,643,352


     Total
         Partners' equity (deficit) at March 31, 2003                    14,856,030                14,896,397
         Net loss                                                          (246,520)                 (256,406)
                                                                     ----------------            --------------
         Partners' equity (deficit) at June 30, 2003                     14,609,510                14,639,991
</TABLE>

<TABLE>
<CAPTION>

The following table shows the effect of the restatement on the Statement of Cash Flows as previously reported:

                                                                      Quarter Ended March 31, 2003 (Unaudited)
                                                                  ----------------------------------------------
                                                                                               As Previously
                                                                      As Restated                 Reported
                                                                  ---------------------      -------------------
<S>                                                               <C>                         <C>
     Cash flows from operating activities:
         Net loss                                                 $          (246,520)        $       (256,406)
         Adjustments to reconcile net loss to net cash
            (used in) provided by operating activities:
            Equity in losses of limited partnerships                           222,362                  228,767
</TABLE>



                                       17
<PAGE>




Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations

Forward-Looking Statements

With  the  exception  of  the  discussion  regarding   historical   information,
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  and  other   discussions   elsewhere  in  this  Form  10-Q  contain
forward-looking  statements.  Such statements are based on current  expectations
subject to uncertainties and other factors,  which may involve known and unknown
risks that could cause actual  results of operations to differ  materially  from
those  projected or implied.  Further,  certain  forward-looking  statements are
based upon assumptions about future events, which may not prove to be accurate.

Risks and uncertainties inherent in forward-looking  statements include, but are
not  limited  to,  our  future  cash  flows and  ability  to  obtain  sufficient
financing, level of operating expenses, conditions in the low-income housing tax
credit property market and the economy in general, as well as legal proceedings.
Historical  results are not necessarily  indicative of the operating results for
any future period.

Subsequent  written and oral  forward-looking  statements  attributable to us or
persons  acting on our behalf  are  expressly  qualified  in their  entirety  by
cautionary  statements  in this Form 10-Q and in other reports we filed with the
Securities and Exchange  Commission.  The following discussion should be read in
conjunction  with the  Consolidated  Financial  Statements and the Notes thereto
included elsewhere in this filing.

The following discussion and analysis compares the results of operations for the
three  months  ended June 30, 2003 and 2002,  and should be read in  conjunction
with the condensed  consolidated  financial  statements and  accompanying  notes
included within this report.

Financial Condition

The Partnership's  assets at June 30, 2003 consisted  primarily of $1,905,000 in
cash and cash equivalents,  aggregate  investments in the thirteen Local Limited
Partnerships of $13,420,000 and $85,000 in loans receivable. Liabilities at June
30, 2003 consisted primarily of $517,000 due to limited partnerships, $64,000 of
accrued asset management fees,  commissions  payable,  and reimbursements due to
the  General  Partner or  affiliates  and  $221,000 in  interest  and  insurance
proceeds payable to affiliates.

Results of Operations

Three Months  Ended June 30, 2003  Compared to Three Months Ended June 30, 2002.
The  Partnership's  net loss  for the  three  months  ended  June  30,  2003 was
$(246,000), reflecting an increase in loss of $(129,000) from the $(117,000) net
loss for the three  months  ended June 30,  2002.  The  increase in net loss was
primarily due to an increase of approximately  $(130,000) in equity in losses of
limited  partnerships,  which increased to $(222,000) for the three month period
ended June 30, 2003 from  $(92,000)  for the three month  period  ended June 30,
2002,  due  to  the  completion  of  construction  and  lease-up  of  additional
properties.  In  addition  to the  increase  in equity in  losses  from  limited
partnerships,  gain from operations  increased by $1,000 to a loss of $(24,000),
for the three months ended June 30, 2003 from a loss of $(25,000)  for the three
months ended June 30, 2002.  The increase in gain from  operations was primarily
due to a decrease in interest income of $(6,000) due to lower interest rates and
balance of cash on hand,  off-set by a $4,000  increase in  reporting  fees,  an
increase in asset  management  fees of $5,000,  which was offset by decreases in
legal  and  accounting  fees  of  $(7,000)  and  other  operating   expenses  of
approximately $(1,000) for the three months ended June 30, 2003.







                                       18

<PAGE>



Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations, continued

Cash Flows

Three Months  Ended June 30, 2003  Compared to Three Months Ended June 30, 2002.
Net cash used  during  the three  months  ended  June 30,  2003 was  $(342,000),
compared  to a net cash  provided  in the three  months  ended June 30,  2002 of
$316,000 reflecting an increase of $(657,000) net cash used. The increase in net
cash  used  is due to an  increase  of  $(660,000)  in cash  used  by  investing
activities,  which was  primarily  due to a  decrease  in  payments  of  capital
contributions to Local Partnerships and completions of syndication  process. The
increase in net cash used by investment activities was offset by the decrease of
$(3,000) by net cash used by operating activities.

The Partnership  expects its future cash flows,  together with its net available
assets at June 30, 2003,  to be  sufficient  to meet all  currently  foreseeable
future cash requirements.

Other Matters

During  the  year  ended  March  31,  2002,  WNC,  the  General  Partner  of the
Partnership  was  advised  that  Lake  Village   Apartments,   a  local  limited
partnership,  was in default of covenants  relating to certain loans advanced to
it for the construction of apartments. The defaults were primarily caused by the
general  contractor  failing to complete  the  construction  of the  development
according to the terms of the loans.  As a result of the foregoing,  at June 30,
2002, Lake Village  Apartments and a WNC affiliate  executed a workout agreement
with their lender (the "Agreement"), whereby the General Partner of Lake Village
Apartments was replaced by the  aforementioned  WNC  affiliate.  Pursuant to the
terms of the Agreement, the new general partner would cause additional equity to
be contributed to the local limited partnership,  a new general contractor would
complete the construction of the development,  and the lender, upon satisfaction
of certain  conditions of the Agreement as defined,  would  continue to fund the
completion of the construction,  among other costs. In addition, pursuant to the
Agreement,  the Partnership Agreement was amended, and the partnership committed
to  additional  capital  contributions  of  $855,628  as a result  of  obtaining
additional  tax credits,  and $387,877  was  disbursed to an escrow  account and
further disbursed to Lake Village Apartments.  A net amount of $522,997 had been
advanced to Lake  Village by March 31,  2003.  An amount of  $467,751  from this
advance was applied to capital contributions along with $49,587 that was applied
towards the  interest  payable  owing to Lake Village  resulting  from an escrow
account as of March 31, 2003,  resulting in a balance of $5,660. The Partnership
entered into a loan receivable agreement in the amount of this balance, which is
included in loans  receivable.  Construction of the development is completed and
as of June 30, 2003,  the facility had reached 82% occupancy and 100% tax credit
qualified.  The property will be switching  management companies in January 2005
to improve the quality of tenant  communications,  stablize occupancy and reduce
operating expenses. The current occupancy rate is 90% as of September 30, 2004.

One Local Limited  Partnership,  ACN Southern Hills II, L.P. ("Southern Hills"),
in which the Partnership owns a 99.98% interest, had a construction loan payable
aggregating  approximately $1,100,000 as of December 31, 2001. Such construction
loan was due in March 2002 and was not repaid at that time.  In  September  2002
the loan was  successfully  refinanced  with a first  mortgage of $463,000 and a
20-year loan of $80,000 from the Partnership to Southern Hills. The Partnerships
loan is  subordinate  to the first  mortgage  and  requires  payments to be made
monthly and at the end of the year from  available  cash flow.  The  Partnership
expects this loan to be collectible in full.  Southern Hills has been making all
payments on a timely  manner and as of September  30, 2004 is curent on the loan
owing to the Partnership.

Certain Local Limited  Partnerships have incurred  significant  operating losses
and  have  working  capital  deficiencies.  In the  event  these  Local  Limited
Partnerships continue to incur significant operating losses,  additional capital
contributions  by the  Partnership  and/or  the  Local  General  Partner  may be
required  to sustain  the  operations  of such Local  Limited  Partnerships.  If
additional  capital  contributions  are not made  when  they are  required,  the
Partnership's  investment in certain of such Local Limited Partnerships could be
impaired, and the loss and recapture of the related tax credits could occur.






                                       19
<PAGE>



Item 3.   Quantitative and Qualitative Disclosures about Market Risk

          NOT APPLICABLE

Item 4.   Controls and Procedures

          As of the end of the period covered by this report,  the Partnership's
          General Partner,  under the supervision and with the  participation of
          the Chief Executive  Officer and Chief Financial Officer of Associates
          carried  out  an  evaluation  of  the   effectiveness  of  the  Fund's
          "disclosure controls and procedures" as defined in Securities Exchange
          Act of 1934 Rule  13a-15 and  15d-15.  Based on that  evaluation,  the
          Chief Executive Officer and Principal Financial Officer have concluded
          that  as of  the  end  of the  period  covered  by  this  report,  the
          Partnership's  disclosure  controls and  procedures  were adequate and
          effective in timely alerting them to material  information relating to
          the Partnership required to be included in the Partnership's  periodic
          SEC filings.

          Changes  in   internal   controls.   There  were  no  changes  in  the
          Partnership's  internal control over financial reporting that occurred
          during the quarter ended June 30, 2003 that  materially  affected,  or
          are reasonably likely to materially affect, the Partnership's internal
          control over financial reporting.





                                       20
<PAGE>



Part II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)       Reports on Form 8-K.
          --------------------

          NONE

(b)       Exhibits.
          ---------

31.1      Certification  of the  Principal  Executive  Officer  pursuant to Rule
          13a-15(e)  and  15d-15(e),  as adopted  pursuant to section 302 of the
          Sarbanes-Oxley Act of 2002. (filed herewith)

31.2      Certification  of the  Principal  Financial  Officer  pursuant to Rule
          13a-15(e)  and  15d-15(e),  as adopted  pursuant to section 302 of the
          Sarbanes-Oxley Act of 2002. (filed herewith)

32.1      Section 1350  Certification  of the Chief  Executive  Officer.  (filed
          herewith)

32.2      Section 1350  Certification  of the Chief  Financial  Officer.  (filed
          herewith)


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<PAGE>

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.


WNC HOUSING TAX CREDIT FUND VI, L.P., Series 7
(Registrant)

By:   WNC & Associates, Inc., General Partner of the Registrants



By:   /s/ Wilfred N. Cooper, Jr.
      --------------------------
Wilfred N. Cooper, Jr.
President and Chief Executive Officer of WNC & Associates, Inc.

Date:   November 10, 2004




By:  /s/ Thomas J. Riha
     ------------------
Thomas J. Riha
Senior Vice President and Chief Financial Officer of WNC & Associates, Inc.

Date:   November 10, 2004



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